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20121211
20121211
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dollar funded battery marker a-123 systems is up for sale. the winning bid goes to -- china. so i asked was red china rising why u.s. taxpayers have to finance their battery companies. here's ann lee, author of "what the u.s. can learn from china," professor of nyu and visiting professor from beijing university and author kwof "death by china" and cnbc contributor. ann, let me go to you first. if we, the u.s. taxpayer and government are dumb enough to build a goofy battery company that goes bankrupt why shouldn't china scoop it up? >> i think this is a great story. first of all, taxpayer money wasn't wasted. all that money from the government went to help property plant and equipment here on american soil. and it's staying in america. chinese companies are not going to pack it up and move it to china. it's staying in the united states. they are going to hire u.s. employees to run it. that means more american prosperity. that's what we want. i think this is a win-win situation. the company that bought this is basically like the warren buffett of china. >> all right. let me get there. the
. >> brian: millions of dollars in a green company only to sell it to china? stewart varney with another waste of your money. he's coming up now. ♪ it's my favorite time of year again and now -- i got a great new way to get deals. it's called bankamerideals, from bank of america. i choose the cash back deals in my mobile or online banking. i just use my bank of america debit or credit card when i pay. and i get as much as 15% cash back -- put into my account. this is cash back on top of other rewards i already get. best of all -- it's free. happy holidays. [ male announcer ] introducing bankamerideals, free for online banking customers. sign in to your online banking to choose your deals today. nespresso. where i never have to compromise on anything. ♪ where just one touch creates the perfect coffee. where every cappuccino and latte is only made with fresh milk. and where the staff is exceptionally friendly. ♪ nespresso. what else? ♪ >> gretchen: if you are just waking up it is 17 minutes past the top of the is it like a fire sale on america interest? china buying up u.s. compani
be on the the way, they've got one already, how is that working out? and china may be the number one economy soon. really? "varney & company" about to begin. >> right off the top, breaking news for you now. fox business learned that a group claimed to be aligned with terrorism is threatening to launch a massive attack against u.s. bank websites and made that threat in the fall and this is a new threat set to start this week, we hear. and a list of banks targeted includes j.p. morgan chase, bank of america, u.s. bancorp, pnc financial services and suntrust banks. more details when we've got them. the power and might of unions on display today and being tested. you will see huge protests at the state capital building in michigan where right to work legislation will be signed today. that means workers will be able to choose if they want to join the union. they will no longer be compelled to pay dues. here is the president speaking at a daimler factory in michigan yesterday. >> we do everything we can to encourage companies like daimler to keep investing in american workers. and by the way, what we
and china were funds with in those countries. it's something like $3 trillion the government does in the national security trust fund and those have to be paid back in the general revenues. much of this deficit and debt was accumulated during the period of prosperity. relief from the 60's. we've only had to balance the budget since 1969. bill clinton had won in 1990 and lyndon johnson had one in 1969. i believe johnson was able to achieve ten because of the basic fiscal year. [laughter] typical of johnson in the fiscal year to october 1st or september 30 of which then enabled him to balance the budget, so clinton who did it legitimately i think. but in other words, the idea is we would run up the deficit when you have islam, large deficits when you have a slump, it would run at medium-size deficits in the times of prosperity. the u.s. government spending $3.6 trillion this year one-third of it is borrowed. since 2001 federal spending has gone up roughly twice the rate of economic growth. interest payments are temporarily manageable. somewhere around $250 billion a year, less than
. americans have not seen this in awhile. i think one of the interesting -- i think there's always china, europe, and the congress who can mess this up, but i think it's going to be pretty hard to stop this recovery. we have done everything we can to do it. we can probably do it again if we try hard. i think we won't succeed this time. >> we talked that brings up a good point. we haven't talked about job creation yet and the polling shows that's a big concern for americans. particularly for the long-term unemployed who have been left behind a little bit in the economic recovery, do you feel like the president and congress is doing enough to address that problem? and what politically and realistically could be done in the next four years? yeah. >>, i mean, i think the president is committed to this, i think that he would like to see i think see unemployment insurance -- and he would like to see, if possible, the extension of the payroll tax cuts. we have at the center for progress we released a deficit and revenue plan that calls for $400 billion in short term. we think there's a need for
Search Results 0 to 4 of about 5

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